Top 10 Life Insurance Myths—Busted

When it comes to life insurance, misinformation is everywhere. Many people avoid buying coverage because of myths they’ve heard from friends, family, or even social media. These misconceptions can prevent families from getting the protection they need. Let’s bust the top 10 life insurance myths and set the record straight.

Myth #1: Life Insurance is Too Expensive

Truth: Most people overestimate the cost by 3–4 times. A healthy 30-year-old can secure a $500,000 term life policy for as little as $25/month.

Myth #2: Only Breadwinners Need Life Insurance

Truth: Stay-at-home parents provide valuable services like childcare, cooking, and transportation. Life insurance can help cover these costs if they pass away.

Myth #3: I Don’t Need Life Insurance Until I’m Older

Truth: Buying young saves you thousands in the long run. Premiums rise 4–9% each year you delay.

Myth #4: My Job’s Group Insurance is Enough

Truth: Employer-provided coverage is often just 1–2 times your salary—not nearly enough to protect your family. Plus, it usually doesn’t follow you if you change jobs.

Myth #5: People With Health Issues Can’t Get Coverage

Truth: Many companies offer guaranteed issue or simplified issue policies with no medical exam.

Myth #6: Term Life is Always Better Than Whole Life

Truth: Term is more affordable, but whole life provides permanent coverage and builds cash value. The best choice depends on your goals.

Myth #7: Life Insurance Payouts Are Taxed

Truth: Death benefits are generally tax-free to beneficiaries.

Myth #8: Only Parents Need Life Insurance

Truth: Even single adults may need coverage for debt, funeral expenses, or to leave a legacy.

Myth #9: Once I Buy, I Can’t Change My Coverage

Truth: Many policies offer conversion or riders that let you adjust coverage as life changes.

Myth #10: It’s Too Complicated to Buy Life Insurance

Truth: With modern tools and brokers like Connect to Coverage, getting life insurance is faster and easier than ever.

Life insurance is not as expensive, complicated, or restrictive as many think. Don’t let myths stop you from protecting your loved ones.

At Connect to Coverage, we make life insurance simple, affordable, and tailored to your needs. Get your free quote today.